Buying Your Next Home

Buying Your Next Home

When it comes to buying your next home, it can be a very rewarding experience if you put in the right type of research and work in order to get what you want.

Manage your Expectations

The stress level of buying a home is often proportional to the expectations you have in store. Realizing that there will be delays, hassles, and unexpected expenses as part of the home buying experience will help manage your expectations to a more reasonable level. For first time home buyers this will still be challenging but the end result will be far less stressful if you manage your expectations correctly.

Closing Time

You may feel the pressure by many sellers to close in a short period of time which can be as little as just a few days instead of the more typical two months. Due to new government regulation and TRID rules, Realtors encourage longer closing times so try to get at least 45 days and up to 70 days if possible to reduce the overall pressure.

Be Prepared for Extra Costs

There are more things to buying a home than most first time buyers realize. This includes appraisals, various home inspections, and other important matters that have to be purchased up front. It pays to have an extra few thousand handy in order to cover expenses that are standard with buying a home, but you may not fully expect.

Understand the Market

The more you know about the current real estate market when buying your next home, the better prepared you will be when it comes to getting what you want. Plus, you’ll reduce any second-guessing by understanding what is happening in the real estate field. Ask a Realtor about what the local market is doing so you can respond accordingly.

Ask Plenty of Questions from your Loan Officer

Be sure to ask for all relevant documents, fees, or other issues that might come up in the process of you purchasing a home. Also ask if you have to settle old charge off payments and other relevant issues that might impede your progress in buying your next home. The more you know the better off you will be.  Read the questions you should ask here.

Go with Real Estate Professionals

To help reduce the stress levels in buying a home go with real estate agents who will help you in any way they can to get the deal done. You will want to have your own real estate professional to ensure that everything goes as smoothly as possible when it comes to getting the home of your dreams. The great news is that as a buyer in Illinois, you do not pay a Realtor anything because all commissions are paid by the seller.